LOOSE CHANGE

LOOSE CHANGE

Republic National Bank of New York is in the process of installing a global FX options management system. The system, from FNX Limited, replaces the Devon system that has been in place at the bank for the past four or five years. Ravi Jain, Republic’s senior trader for currency options, says the bank has run a global book for the past three years, and he expects to go live on the new system in early 1994. "The risk management tools available on FNX suit our needs better for the future. The

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